Turkey in September 2026: the most important developments in economy
In Turkey in September 2026 the economy was shaped mainly by banking sanctions linked to Iran and by turmoil in the investment fund market. On 4 September the United States sanctioned a Turkish bank over Iran ties, and on 19 September Turkey revoked the licence of Iran's Mellat Bank. On 18 September Turkey moved to liquidate funds worth $18.3 billion after a scheme that reports described as Ponzi-like, and on 17 September it announced a crackdown on stock market manipulation. Turkish stocks were rattled by the fund crisis and by 30 September were set to enter a bear market.
On 2 September two Turkish-flagged commercial vessels collided off Istanbul, one ship sank, and 10 crew members were feared dead; a tanker captain was later arrested. A $75 billion inflow of hot money was reported to be creating a dilemma for policymakers, and the government said the Turkish habit of keeping gold at home hurts the economy.
In trade and industry, Turkish Airlines turned Russia-bound jets back and cancelled Moscow flights after a warning from Ukraine's president about airspace risks, and later secured a sponsorship deal worth more than $400 million for Liverpool's shirts. Istanbul Airport was named the world's most connected aviation hub. The defence firm MKE entered the Egyptian market with a subsidiary, and Turkey and Russia signed a memorandum on mineral fertiliser supplies.
by WorldBrief & Maksim Micheliov | AI-generated summary
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